25 October 2022
Eastern Africa
PM Abiy Holds Phone Conversation with Canadian Counterpart
Prime Minister Abiy Ahmed has held phone conversation with his Canadian counterpart, Justin Trudeau. Read More

PM Abiy Congratulates Xi Jinping for Reelection as General Secretary of CPC
Prime Minister Abiy Ahmed has congratulated President Xi Jinping for the reelection as General Secretary of the Chinese Communist Party. Read More

Ethiopia’s Enhanced Wheat Productivity Promising for Eastern Africa: FAO Coordinator
The significantly increased production of wheat in Ethiopia is promising and the country can provide its best practice to other countries in the region, FAO Coordinator in Djibouti Fallou Guèye said. Read More

Ethiopian to Expand Service to Switzerland with New Flight to Zürich
Ethiopian Airlines announced that it will add Zürich to its expanding global network, with thrice weekly flights. Read More

KU to Cede Land for WHO Hub after Lawyers' Petition Thrown Out
The Court of Appeal dismissed a bid by the Law Society of Kenya to stop Kenyatta University (KU) from surrendering part of its land to the World Health Organisation (WHO). Read More

NSSF Raises Stake with KES 703 Million KCB Shares
State-controlled National Social Security Fund (NSSF) bought an additional 18.8 million shares worth KES 703 million (approx. USD 6 million) in listed tier-one lender KCB Group in the third quarter of this year, the latest in a series of incremental purchases. Read More

NHIF Revives Law Raising Premiums for Top Earners
The National Hospital Insurance Fund (NHIF) has revived a controversial law seeking to have workers earning more than KES 100,000 (approx. USD 825) per month pay more in monthly contributions, signalling a heavier financial strain on staff and employers. Read More

Avenue Hospital Taps KES 1.4 Billion from IFC for New Wing
The International Finance Corporation (IFC) is set to lend Avenue Hospital KES 1.4 billion (approx. USD 11.7 million) to fund a new wing at its Nairobi facility in Parklands and refinance existing debt. Read More

Greenpreneurs Decry Funding Gap
Emerging businesses venturing into the restoration of degraded land and forests are decrying funding shortfall, urging decision makers at the upcoming 27th Conference of the Parties, or COP 27, to increase climate finance to African greenpreneurs. Read More

Rwanda Reaffirms Commitment to Global Peace, Development
Rwanda reaffirms continued collaboration with various UN agencies to ensure the development of its people as well as peace and progress globally, said Vincent Biruta, Minister of Foreign Affairs and International Cooperation. Read More

RPF-Inkotanyi to Set Up Leadership Academy
In a bid to pass the mantle to the next generation of leaders, the ruling party, RPF-Inkotanyi, has resolved to set up a leadership academy that will equip youth with the party's principles, values, norms, discipline, and standards of leadership. Read More

Industrial Unit Producing 900,000 Shoes Monthly in The Offing
As part of efforts to cut the country’s footwear import bill, a modern factory able to produce 900,000 footwear such as shoes, boots, and sandals is being constructed in Kigali’s Special Economic Zone, Doing Business has learnt. Read More

Barrick Gold Not Done Yet Even After TZS 5 Trillion Investment
After in-country investment of USD 2.187 billion (approx. TZS 5 trillion) during the past three years, Barrick Gold Corporation said at the weekend that it was looking to expand its East African footprint. Read More

WTA Crowns Zara Tanzania Adventures Africa’s Leading Tour Operator 
Zara Tanzania Adventures was named Africa’s Leading Tour Operator 2022 at the prestigious World Travel Awards held in Nairobi, Kenya. Read More

What EU's Type C Charger Rule Means for Tanzania
Tanzanian traders are staring at stockouts and dead stock in coming years, following the European Union (EU)’s move to standardise all smartphone chargers to USB-C cables. Read More

Ebola: EU Allocates EUR 3 Million to Uganda's Response Efforts     
The European Union (EU) has mobilised EUR 3 million (approx. UGX 11 billion) in emergency funds to support Uganda's emergency response to the Ebola Virus Disease. Read More

Govt to Convert Namanve Power Plant into Gas Production Unit  
The Ministry of Energy has said it is engaging the government of Tanzania to convert the recently repossessed Namanve Thermal Power Plant into a Liquefied Petroleum Gas production unit. Read More

Government Banking on Electric Vehicles to Boost Mining
The Minister of State for Mineral Development has said the transition to green energy is a key factor on which Uganda will hinge the development of its mineral sector in the years to come. Read More
Northern Africa
Klakočar Zupančič and Algerian speaker Boughali seek closer cooperation

Speaker Urška Klakočar Zupančič and the president of the lower chamber of the Algerian People's National Assembly Ibrahim Boughali expressed the wish for closer cooperation among the two countries, especially in the economy, as they met in Ljubljana. Read More

Development Partners' Fund to Egypt Low Cost, Repaid Over Long Periods - Minister

International Cooperation Minister Rania Al-Mashat said the funds offered by development partners, whether from the World Bank, the European Union, or French or American bodies, are low cost and repaid over long periods, noting there is a grace period with a low-interest rate, less than the commercial interest rates. Read More

Trade Exchange Between UAE, Egypt Amounted to AED 247.6 Billion in 22 Years
The volume of non-oil trade exchange between the United Arab Emirates UAE and Egypt during the past 22 years, from 2000 to the end of the first half of this year 2022, amounted to more than AED 247.68 billion (approx. USD 67 billion), with a growth rate at the end of last year 2021 reaching 3635 percent, according to data of the Federal Competitiveness Center And statistics. Read More

Egypt Discusses State Ownership Policy Document, Supporting Competition Policies
The second day of Egypt's economic conference witnessed a session, entitled,” the state ownership policy document and supporting competition policies. Read More

Egypt Invested EGP 50 Billion in Digital Transformation Projects - Minister
Telecommunications and Information Technology Minister Amr Talaat said Egypt invested EGP 50 billion (approx. USD 2.5 million) in digital transformation projects and aims to increase the information and communications technology sector exports. Read More

Singapore in Talks with Morocco to Buy Carbon Credits, Meet Climate Goals
In a bid to meet its climate targets, Singapore has started talks on carbon markets to buy carbon credits from Morocco and other countries including Ghana, Indonesia, Colombia, and Brunei. Read More

Morocco to Directly Subsidize Housing for Disadvantaged Families
Morocco is set to provide direct financial aid for disadvantaged families for housing purposes. Read More

Hassan Allam Holding to Invest Up to USD 150 Million in Morocco’s Renewables
Intelaka program, a state program aiming to finance and support Moroccan Small and Medium-Sized Businesses issued MAD 8 billion (USD 752.7 million) in loans at the end of August 2022. Read More

Hassan Allam Holding to Invest Up to USD 150 Million in Morocco’s Renewables
Hassan Allam Holding, one of Egypt’s largest private corporations, plans to invest between USD 50 million and USD 150 million in renewable energy and seawater desalination projects in Morocco.  Read More
Southern Africa
Commission Outlines Agro Finance Hurdles
National Planning Commission has said sustained financial investment is key to transforming the current subsistence agriculture production to commercial farming. Read More

World Bank Project to Provide Matching Grants
The World Bank-funded Malawi Watershed Services Improvement Project (Mwasip) says it will disburse matching grants to about 200 farmers’ groups and 60 agri-business enterprises in the country. Read More

Commission Outlines Agro Finance Hurdles
National Planning Commission has said sustained financial investment is key to transforming the current subsistence agriculture production to commercial farming. Read More

Embrace Innovation or Sink, RBM Dares Insurers
The Reserve Bank of Malawi (RBM) has challenged insurance professionals to be innovative and embrace change or else make their profession die a natural death. Read More

South Africa
JSE Faces Higher Asian Markets after Monday’s Battering
The JSE is facing green screens in Asia on Tuesday morning and US markets overnight after a rough day on Monday which saw Naspers and international subsidiary Prosus take a beating because Tencent’s drop amid policy uncertainty after the 20th congress of the Chinese Communist Party at the weekend. Read More

Altron Reports Triple-Digit Surge in HY Profits
JSE-listed software and computer services company Altron reported a significant improvement in its half-year results to 31 August 2022, compared with the previous comparable period. Read More

Game, Shoprite and Woolworths Launching Black Friday 2022 deals – What to Expect
With a month to go before Black Friday 2022, retailers in South Africa are gearing up for a bumper weekend, kicking off the festive shopping season. Read More

The Businesses Hardest Hit by Liquidations in South Africa Right Now
Over 1,400 South African businesses have been liquidated in 2022 so far, with 170 more recorded in September, data from Statistics South Africa shows. Read More

Bureaux de Change Association of Zambia Nods BoZ Intervention
The revision of the limit for individuals transacting in foreign currency by the Bank of Zambia (BoZ) will improve service delivery among small- and medium-scale entrepreneurs as time spent to access larger amounts of the United States dollar has been cut. Read More

Lusaka to Welcome Five Star Resort
Asian developer Hing Construction will bring a new five-star hotel resort to Lusaka. The resort with around 150 rooms will be spread over 12 floors and situated on a podium. Read More

Airtel Says it Welcomes Feedback, Reveals 5,000 Data Related Complaints Monthly
Airtel Zambia has disclosed that it has been receiving approximately 5,000 complaints from customers about the internet and data depletion on a monthly basis. Read More
Western Africa
Cote d'Ivoire
Visit by Olivier Becht
Olivier Becht, Minister Delegate for Foreign Trade, Economic Attractiveness and French Nationals Abroad, attached to the Minister for Europe and Foreign Affairs, will be traveling to Côte d’Ivoire from Tuesday, 25 October to Friday 28October. Read More

Ghana Likely to Undertake Some Form of Debt Restructuring – Stanchart Africa Market Report
Ghana is likely to undertake some form of debt restructuring to put its debt under sustainable path, the September 2022 Africa Markets Revealed Report by the Standard Chartered Bank has revealed. Read More

British High Commission Partners Cities of Tamale and Sekondi-Takoradi to Address Flooding Issues 
The British High Commissioner to Ghana, Harriet Thompson, has reiterated the High Commission’s commitment to addressing climate change and reducing emissions through UK Aid’s funding for the International Finance Corporation’s EDGE certificate for green buildings. Read More

UBA’s Diversified Businesses Act as Hedge Against Financial Risks - CEO
United Bank for Africa (UBA) has disclosed that its diversified business model in key international markets on the continent and around the world, continues to act as a hedge and to position the Group to better mitigate business risks arising from the financial, economic and political environment. Read More

Agrofood Exhibitors to Hold Conference in Accra
Exhibitors in agrofood, plastprintpack and packaging will converge in Accra for the 7th edition of trade exhibitions and conferences. Read More

NEPZA to Recall Contract Bonds on Prolonged Projects
The Nigeria Export Processing Zones Authority (NEPZA) has vowed to call up contract bonds from contracted companies that decided to willfully prolong execution of assigned projects with the hope of triggering variation clause. Read More

Islamic Bank Approves USD 1.8 Billion to Finance Nigerian Projects
In a bid to drive economic growth in Nigeria, the Islamic Development Bank has sanctioned USD 1.8 billion to finance several key projects in the country. Read More

Afrinvest Targets Offshore Investors in New Growth Plan
Afrinvest West Africa is targeting local and foreign investors in its new growth plan driven by launch of Optimus by Afrinvest into the market. Read More

UBA’s Gross Earnings Hit NGN 608 Billion in Q3
United Bank for Africa (UBA) released its third quarter results, showing double-digit growths across key performance indicators. Read More
Africa This Morning is ALN’s daily newsletter that gives a round-up of the top news making headlines across Africa. It focuses on business news and any other happenings set to impact doing business and investing in the region. The above are updates and do not constitute legal advice.

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